Shares of Clearwire Corporation (NASDAQ: CLWR), a provider of fourth-generation (4G) wireless broadband services, are soaring in early trading today. At last check, CLWR shares were trading 22.84% higher at $2.85 on above average volume of 47.79 million. The stock hit a 52-week high of $2.96 in early trading today.
CLWR shares are soaring after Japan’s Softbank announced that it would acquire a 70% stake in Sprint Nextel Corp. (NYSE: S). Sprint has a 49% stake in Clearwire. The cash infusion from Softbank into Sprint has the prospects of Sprint acquiring CLWR equity it doesn’t already hold.
Shares of Monro Muffler Brake Inc. (NASDAQ: MNRO), a chain of 803 company-operated stores, three franchised locations and 14 dealer-operated stores providing automotive undercar repair and tire services in the U.S., are down sharply in early trading today.
At last check, MNRO shares were trading 5.71% lower at $34.01 on volume of 195,383. The stock fell to an intra-day low of $33.25.
Shares of ISIS Pharmaceuticals Inc. (NASDAQ: ISIS), a Carlsbad, California-based company engaged in antisense technology, are climbing in early trading today. At last check, ISIS shares were trading 4.43% higher at $13.20 on volume of 1.24 million. The stock hit an intra-day high of $14 in trading today.
ISIS last week announced that Regulus Therapeutics Inc. recently priced its IPO offering of 11,250,000 shares of Regulus common stock at $4 per share. ISIS bought $3 million of Regulus common stock at the offering price and continues to be a significant shareholder of the company.
Shares of Millennial Media Inc. (NYSE: MM), a mobile advertising platform company, are down sharply in early trading today. At last check, MM shares were trading 4.68% lower at $15.27 on volume of 237,197. The stock hit an intra-day low of $14.90 in early trading today.
MM shares are falling even as the company reported strong preliminary third-quarter financial results. The company’s preliminary financial results for the third quarter are ahead of its previously announced expectations. Total revenue for the third quarter is expected to be between $46.5 million and $47 million, which is above the guidance range of $43.5 million to $45 million given by the company. Net loss for the third quarter is expected to be between $1.9 million and $2.4 million.
Paul Palmieri, President and CEO of Millennial Media, said that MM;s third-quarter revenue growth of approximately 85% year-over-year represents an acceleration from its second-quarter growth rate of 76% to its continued success as the leading independent mobile advertising and data platform.
Shares of Gazit-Globe Ltd. (NYSE: GZT), a real estate company engaged in the acquisition, development and management of income producing properties, are soaring in trading today. At last check, GZT shares were trading 4.53% higher at $11.54, with volume at 4,900. The stock hit an intra-day high of $11.60.
Shares of AT&T Inc. (NYSE: T), a provider of telecommunications services in the U.S. and worldwide, are down sharply in early trading today. At last check, AT&T shares were trading 1.08% lower at $35.24 on volume of 13.77 million. The stock hit an intra-day low of $34.83.
AT&T will release its third-quarter financial results on Tuesday, October 23, 2012.
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